Microsoft Corporation acquired a building for $2,200,000. The building has an estimated useful life of 40 years and a salvage value of $150,000. Calculate the depreciation expense for the first year using the sum-of-the-years'-digits method.

Requirements:

• Calculate the depreciation expense for the first year using the sum-of-the-years'-digits method.
• Provide the journal entry to record the depreciation expense for the first year.